By Aseel bin Talib
Riyadh-Mubasher: Tadawul All-Share Index (Tadawul) fell more than 60 points or 0.94% to 6,370.
Abdullah Al-Jabali, capital market expert, said the benchmark hit its key support of 6,300, and thus it will likely rise further to 6,500; the strongest resistance level in the rebound wave since breaching the 5,800.
He told Mubasher that if the index fails to hold position above the 6,500 level, it will decline to 5,800.
The market will be pressured by the first-quarter corporate financials which are expected to be weaker than those of the same period a year before, especially those of the leading companies, Al-Jabali said.
Sectors moved higher, except for transport which rose 0.78%.
More than 401.1 million shares were exchanged through over 140,000 transactions at a turnover of SAR 6.5 billion.
Tracking stock performance, losers outnumbered gainers 114 to 52 and only one kept flat.
Wafa Insurance was the top gainer, rising 9.82% to SAR 8.95. Meanwhile, Jarir was the biggest decliner, falling 9.15% to SAR 119.5.
Alinma Bank was the most active in trading volume with 81.7 million shares. It also led in number of trades with 7,862.
Translated by Abdul Maguid Aboshahla
